Brokerages Expect Cinemark Holdings, Inc. (NYSE:CNK) Will Announce Quarterly Sales of $818.06 Million

Wall Street brokerages expect Cinemark Holdings, Inc. (NYSE:CNK) to report sales of $818.06 million for the current quarter, Zacks reports. Five analysts have made estimates for Cinemark’s earnings, with the highest sales estimate coming in at $853.20 million and the lowest estimate coming in at $796.30 million. Cinemark reported sales of $754.24 million in the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The company is scheduled to announce its next earnings results on Friday, November 1st.

According to Zacks, analysts expect that Cinemark will report full-year sales of $3.33 billion for the current fiscal year, with estimates ranging from $3.26 billion to $3.38 billion. For the next fiscal year, analysts expect that the company will report sales of $3.40 billion, with estimates ranging from $3.28 billion to $3.51 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Cinemark.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 2nd. The company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.06. Cinemark had a return on equity of 13.75% and a net margin of 6.31%. The company had revenue of $957.76 million during the quarter, compared to analyst estimates of $906.57 million.



A number of analysts have recently weighed in on the company. Loop Capital upgraded Cinemark from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, July 3rd. Wedbush restated a “buy” rating and issued a $49.00 target price on shares of Cinemark in a research note on Friday, August 2nd. MKM Partners lowered their target price on Cinemark to $43.00 and set a “buy” rating for the company in a research note on Monday, July 15th. ValuEngine upgraded Cinemark from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley lowered their target price on Cinemark from $41.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Cinemark currently has an average rating of “Buy” and an average price target of $44.00.

In other Cinemark news, CFO Sean Gamble sold 5,669 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $41.50, for a total transaction of $235,263.50. Following the transaction, the chief financial officer now owns 126,025 shares in the company, valued at $5,230,037.50. The sale was disclosed in a document filed with the SEC, which is available through this link. 9.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Cinemark by 2.8% during the 1st quarter. BlackRock Inc. now owns 12,654,650 shares of the company’s stock valued at $506,061,000 after purchasing an additional 340,563 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cinemark by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 10,085,577 shares of the company’s stock valued at $364,090,000 after purchasing an additional 87,273 shares in the last quarter. FMR LLC lifted its holdings in shares of Cinemark by 5.7% during the 1st quarter. FMR LLC now owns 9,183,881 shares of the company’s stock valued at $367,263,000 after purchasing an additional 494,773 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Cinemark by 9.3% during the 2nd quarter. Victory Capital Management Inc. now owns 5,683,649 shares of the company’s stock valued at $205,180,000 after purchasing an additional 483,773 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Cinemark by 3.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,709,992 shares of the company’s stock valued at $130,703,000 after purchasing an additional 114,780 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Shares of NYSE:CNK traded up $0.60 during midday trading on Tuesday, reaching $37.73. The company’s stock had a trading volume of 3,730 shares, compared to its average volume of 1,334,192. Cinemark has a fifty-two week low of $34.49 and a fifty-two week high of $43.51. The company has a market capitalization of $4.35 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.08 and a beta of 0.71. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.92. The business’s fifty day simple moving average is $38.09 and its 200-day simple moving average is $39.03.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Earnings History and Estimates for Cinemark (NYSE:CNK)

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